Sai Silks Kalamandir IPO Raises ₹360.30 Crore from Anchor Investors

Sai Silks Kalamandir IPO Raises ₹360.30 Crore from Anchor Investors

VoM News Desk | September 20, 2023 | 06:26 AM IST | Breaking News | Follow on Google News

Sai Silks Kalamandir IPO Raises ₹360.30 Crore from Anchor Investors. Image/Mint

Sai Silks Kalamandir IPO Raises ₹360.30 Crore from Anchor Investors.

Sai Silks Kalamandir IPO garnered ₹360.30 crore from 26 anchor investors at the upper price band of ₹222 per equity share on September 18, 2023, according to the company’s exchange filing.

The anchor book included prominent investors such as Whiteoak Capital, Abakkus, Citigroup Global, SBI MF, ICICI Prudential MF, HDFC MF, Kotak MF, HSBC MF, Aditya Birla Sunlife MF, and UTI MF.

Out of the total allocation of 16,229,707 equity shares to anchor investors, 11,724,694 equity shares were allocated to 8 domestic mutual funds through a total of 16 schemes.

Sai Silks Kalamandir IPO Details:

• Fresh issuance of ₹600 crore worth of shares.
• Offer for sale (OFS) of up to 2.70 crore equity shares by the promoter and promoter group.
• Use of proceeds: Capital expenditures for the establishment of 30 additional stores and two warehouses, working capital needs, debt repayment, and general corporate purposes.

Important Dates for Sai Silks Kalamandir IPO:

• IPO Price Range: ₹210 to ₹222 per equity share
• IPO Opening Date: September 20, 2023
• IPO Closing Date: September 22, 2023

Grey Market Premium (GMP) for Sai Silks Kalamandir IPO:

As of the latest information, Sai Silks Kalamandir IPO GMP is at +7, which indicates that shares were trading at a premium of ₹7 in the grey market.

The estimated listing price for Sai Silks Kalamandir shares, considering the upper end of the IPO price band and the current grey market premium, is ₹229 apiece, representing a 3.15% premium over the IPO price of ₹222.

Investors should keep an eye on the grey market premium and overall market conditions before making investment decisions related to the Sai Silks Kalamandir IPO.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.